Campbell’s (NASDAQ:CPB) Posts Earnings Results

Campbell’s (NASDAQ:CPB) posted its quarterly earnings data on Monday. The company reported $0.50 earnings per share (EPS) for the quarter, FiscalAI reports. Campbell’s had a net margin of 5.48% and a return on equity of 19.96%. The company had revenue of $2.37 billion for the quarter.

Campbell’s Price Performance

Shares of CPB opened at $21.68 on Monday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 11.85 and a beta of 0.02. Campbell’s has a 1-year low of $19.56 and a 1-year high of $34.66. The company’s fifty day simple moving average is $20.88 and its 200 day simple moving average is $24.95. The company has a current ratio of 1.01, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66.

Campbell’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Thursday, July 2nd. Campbell’s’s payout ratio is presently 85.25%.

Hedge Funds Weigh In On Campbell’s

Several large investors have recently modified their holdings of CPB. Two Sigma Investments LP raised its position in shares of Campbell’s by 534.8% in the third quarter. Two Sigma Investments LP now owns 4,937,170 shares of the company’s stock valued at $155,916,000 after purchasing an additional 4,159,398 shares during the period. Brandywine Managers LLC bought a new position in shares of Campbell’s in the fourth quarter valued at about $92,793,000. Lazard Asset Management LLC bought a new position in shares of Campbell’s in the first quarter valued at about $61,261,000. Invesco Ltd. raised its position in shares of Campbell’s by 42.6% in the third quarter. Invesco Ltd. now owns 7,995,733 shares of the company’s stock valued at $252,505,000 after purchasing an additional 2,387,575 shares during the period. Finally, UBS Group AG grew its stake in shares of Campbell’s by 175.7% in the third quarter. UBS Group AG now owns 3,730,947 shares of the company’s stock valued at $117,823,000 after acquiring an additional 2,377,488 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CPB shares. BTIG Research started coverage on shares of Campbell’s in a report on Monday, April 13th. They issued a “neutral” rating on the stock. BNP Paribas Exane lowered their price objective on shares of Campbell’s from $22.00 to $19.00 and set an “underperform” rating on the stock in a report on Thursday, April 9th. Zacks Research upgraded shares of Campbell’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Sanford C. Bernstein downgraded shares of Campbell’s from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $21.00 to $19.00 in a report on Wednesday. Finally, Bank of America lowered their price objective on shares of Campbell’s from $26.00 to $23.00 and set an “underperform” rating on the stock in a report on Thursday, March 12th. Thirteen investment analysts have rated the stock with a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $22.75.

About Campbell’s

Campbell’s (NASDAQ: CPB) is a leading manufacturer of shelf-stable foods and beverages, best known for its iconic soups and broths. Headquartered in Camden, New Jersey, the company offers a diverse portfolio of products designed to meet consumer demand for convenient, affordable meals and snacks. Since its founding in 1869, Campbell’s has grown through a combination of organic innovation and strategic acquisitions to expand its presence in the food industry.

The company’s brand portfolio includes Campbell’s Condensed Soups, V8 juices, Prego pasta sauces, Swanson broths and stocks, Pace salsas and dips, and Pepperidge Farm baked snacks.